MFI
Money Flow Index
Description
The Money Flow Indicator is similar to Wilder's RSI
in both interpretation and calculation. However, MFI is considered more rigid
because it is volume-weighted and therefore measures money flowing into and out
of a stock. Positive money flow and negative money flow are calculated and can
be compared to price in order to identify the strength or weakness of a trend.
MFI is measured on a scale of 0 to 100.
Category
Momentum Indicators
Parameters
N ( Default: 14
Min: 1 Max: 100 )
Chart Script
TP :=(High + Low + Close) / 3;
LTP := REF(TP,1);
MF
:=TP*V;
PMF := IF(TP>LTP,MF,0);
NMF := IF(TP<=LTP,MF,0);
MR
:=MA(PMF,N)/MA(NMF,N);
MFI
:100-(100/(1+MR));
20,Color#808080,NoValueLabel;
80,Color#808080,NoValueLabel;
FillRGN(MFI>80,MFI,80),Brush#20808000;
FillRGN(MFI<20,MFI,20),Brush#20800000;
@SetHLine(20,50,80,100);
@SetYMinMax(0,100)